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Technology and Economics Answers

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What is the best definition of economic data?

Economic data is information used for calculation, analysis, or planning.

Economic data is the fastest time it takes to use the fewest resources.

Economic data is knowledge that can be applied to create solutions.

Economic data is a determination based on patterns and evidence.

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When the US government becomes aware of economic changes, the discovery is most likely to influence

how the nation allocates resources.

how companies interest buyers.

how producers ship products.

how economists study trends.

How does the use of new technology in industry benefit consumers more so than producers?

Consumers can allocate their resources wisely.

Consumers have greater access to information.

Consumers can use materials from anywhere.

Consumers can ship goods around the world.

What is the best definition of technology?

Technology is replacing human workers with mechanical or electronic devices.

Technology is applying scientific knowledge to find answers and fix problems.

Technology is using fewer resources to manufacture goods more efficiently.

Technology is hiring workers from all over the world to manufacture goods.

Economic patternsEconomic peaksEconomic theories

Economic patterns

Economic peaks

Economic theories

One negative consequence of using automation to improve manufacturing production is that

factories often need fewer workers.

production will often slow down.

costs often rise for producers.

prices often increase for consumers.

Producers can generate instant sales by using

devices.

forecasts.

patterns.

websites.

This graph shows the US unemployment rate from August 2010 to November 2011.This graph could help an economist predict

how the government will address unemployment.

which industries are most in need of workers.

how many people will be out of work in the next year.

why producers might hire fewer workers in the future.

What is one way that technology can improve the distribution of goods?

Workers can take Internet classes to gain new skills.

Automation can create goods more cheaply and easily.

Businesses can hire factory workers across the world.

Container ships can transport a number of goods at once.

This graph shows the US unemployment rate from August 2010 to November 2011. This graph suggests unemployment in the United States

will continue to fall.

will continue to rise.

will remain the same.

will only change a little.

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